Kakao pockets $1bn from GDR issue

South Korean mobile messaging platform Kakao Corp raised $1bn this week from an issue of Global Depository Receipts (GDRs), defying fears it would suffer from its link to a cryptocurrency exchange.

By Jonathan Breen

18 Jan 2018

Kakao backed South Korean cryptocurrency exchange Upbit in late 2017, when the market’s poster child, Bitcoin, was leading a surge in the value of cryptocurrencies. But fast-forward to this week and their values collapsed. South Korea has threatened to ban trading in the currencies.

In the third instalment of our 2017 awards, we present the full write-ups of the winners of the Best Local Currency Bond, Best High Yield Bond, Best Financial Bond, Best SSA Bond, Best Investment Grade Bond, Best Project Finance Deal, Best Bond, Best G3 and Local Currency Bond House, and Best High Yield Bond House.

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